Ford sold Volvo to China’s Geely

Ford sold Volvo to China’s Geely

Ford Motor Co. on Sunday sold Volvo to one of China most strongest automotive players Geely Holding Group.
The agreement is worth $1.8 billion in a virtual all-cash deal.

Ford have a lot of troubles lately and the deal with Geely about the European based Volvo was much expected transaction. The whole deal will be finished in the third quarter of 2010.

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  1. I’m excited to see what they’re going to be doing with Volvo. I pray to God that they don’t completely change the cars reputable design. I can remember driving in my dads old Volvo and it definitely brings back childhood memories.

    Do you know if they’re going to be doing anything new or just manufacturing the same ones?

  2. China is really looking for world dominance in relation to the auto industry and currently they are in to a major project of developing a electric car which will be available in market soon and the major target countries for its sale are going to be US and EU